SOUTHBOROUGH, Mass. (AP) — Virtusa Corp. (VRTU) on Wednesday reported fiscal fourth-quarter net income of $8.4 million.
On a per-share basis, the Southborough, Massachusetts-based company said it had profit of 24 cents. Earnings, adjusted for one-time gains and costs, were 46 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The provider of information technology services posted revenue of $327.6 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $330 million.
For the year, the company reported net income of $16.1 million, or 38 cents per share, swinging to a profit in the period. Revenue was reported as $1.25 billion.
For the current quarter ending in July, Virtusa expects its per-share earnings to range from 37 cents to 43 cents.
The company said it expects revenue in the range of $313 million to $321 million for the fiscal first quarter.
Virtusa expects full-year earnings in the range of $2.58 to $2.82 per share, with revenue ranging from $1.36 billion to $1.4 billion.
Virtusa shares have climbed 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $54.22, an increase of 12% in the last 12 months.